Wells Fargo remained the top producer of first-lien mortgages with a hefty 27.1 percent increase from the first quarter, gaining ground on all of its nearest competitors.
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At times in 2016, Impac had a monthly retention percentage as high as 84.0 percent, which Joseph Tomkinson said was a market-leading retention rate.
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“While originations to-date have been nominal, we expect a ramp-up production from here as we continue to increase marketing and consumer awareness of the Ally Home offering,” Christopher Halmy said.
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A number of lenders have experienced a sharp decline in refinance volume without a meaningful increase in purchase-mortgage originations, according to Jonathan Corr, president and CEO of Ellie Mae.
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